FIRES – Varieties of Entrepreneurship

Within the framework of the H2020 project “FIRES” (work package 5), this research project investigates differences in start-up processes between the US, Germany, the UK, and Italy. Agreement is broad amongst entrepreneurship researchers and policy-makers alike that entrepreneurship is a key driver of economic prosperity. Consequently, policies aiming at the stimulation of entrepreneurship – like the provision of subsidies, matching funds, or counselling – are wide-spread in Europe. Given the belief in entrepreneurship policies as a means to stimulate venture creation, it is striking to note that entrepreneurial activities in general, and innovative entrepreneurial ventures in particular, remain systematically less developed in Europe than in the US.

The project investigates this puzzle by analysing how entrepreneurs approach venture creation in the US, UK, Germany, and Italy. Based on sequence analyses (originally used to decode the human genome), which are applied to a novel dataset on the timing of start-up processes, this project shows how entrepreneurs differ in their approaches to venture creation. This, in turn, leads us to conclude that one-size-fits-all policies cannot be successful. Instead, individualized policy support is needed to facilitate venture creation within different European economies.

Media Coverage

Institut für Mittelstandsforschung (IfM) Bonn - „Pressemitteilung“ (12 Aug. 2020)
Press release entitled Neugründungen in Deutschland beruhen selten auf radikalen Innovationen, by Jutta Gröschl [pdf] Reprinted in

Sueddeutsche Zeitung, (5 December 2019)
Newspaper article entitled ‘Falsches Vorbild‘
Section on „Wirtschaft“ (p.7): by Tanja Koch. [pdf]

ZEIT ONLINE, (25 September 2019)
Newspaper article entitled ‘Ein Schwäbisches Digitalwunder’
Section on „Digital News“: by Lisa Hegemann. [pdf]

Publications

Herrmann, Andrea M., Cornelia Storz and Lukas Held (2020)
"Whom do Nascent Ventures Search For? Resource Scarcity and Linkage Formation Activities during New Product Development Processes"
Small Business Economics, Vol. 58 (No. 1): pp. 475-496. [pdf]

Herrmann, Andrea M., Teita Bijedić, Jonas Löher, Sebastian Nielen and Nadine Schlömer-Laufen (2020)
Gründungsprozesse und der Einfluss von Krisen
IfM / FGF Policy Brief Mittelstand aktuell, Ausgabe 02/20: Bonn: Institut für Mittelstandsforschung. [pdf]

Bijedić, Teita, Jonas Löher, Sebastian Nielen, Nadine Schlömer-Laufen and Andrea M. Herrmann unter Mitarbeit von Maximilian Zimmermann (2020)
Von der Idee bis zum Gewinn – eine empirische Analyse der Entwicklungsprozesse von Neugründungen. IfM-Materialien Nr. 281.
Bonn: Institut für Mittelstandsforschung. [pdf]

Herrmann, Andrea M. (2020)
"On the Institutional Foundations of the Varieties of Entrepreneurship in Europe"
In: Financial and Institutional Reforms for an Entrepreneurial Society in Europe, Part I Eds. Axel Marx, Mark Sanders and Mikael Stenkula. Berlin: Springer Verlag: pp. 71-90. [pdf]

Sanders, Mark, Mikael Stenkula, Michael Fritsch, Andrea M. Herrmann, Gresa Latifi, Balázs Páger, Laszlo Szerb, Elisa Terragno Bogliaccini and Michael Wyrwich (2020)
"A Reform Strategy for Germany"
In: Financial and Institutional Reforms for an Entrepreneurial Society in Europe, Part II Eds. Axel Marx, Mark Sanders and Mikael Stenkula. Berlin: Springer Verlag: pp. 163-202. [pdf]

Sanders, Mark, Mikael Stenkula, Luca Grilli, Andrea M. Herrmann, Gresa Latifi, Balázs Páger, Laszlo Szerb and Elisa Terragno Bogliaccini (2020)
"A Reform Strategy for Italy"
In: Financial and Institutional Reforms for an Entrepreneurial Society in Europe, Part II Eds. Axel Marx, Mark Sanders and Mikael Stenkula. Berlin: Springer Verlag: pp. 127-162. [pdf]

Sanders, Mark, James Dunstan, Saul Estrin, Andrea M. Herrmann, Balázs Páger, Laszlo Szerb and Elisa Terragno Bogliaccini (2020)
"A Reform Strategy for the UK"
In: Financial and Institutional Reforms for an Entrepreneurial Society in Europe, Part II Eds. Axel Marx, Mark Sanders and Mikael Stenkula. Berlin: Springer Verlag: pp. 203-246. [pdf]

Herrmann, Andrea M. (2019)
Warum die Gründungskultur im Silicon Valley anders ist
IfM / FGF Policy Brief Mittelstand aktuell, Ausgabe 02/19: Bonn: Institut für Mittelstandsforschung. [pdf]

Herrmann, Andrea M. (2019)
"A plea for varieties of entrepreneurship"
Small Business Economics, Vol. 52 (No. 2): pp. 331-343. [pdf]

Herrmann, Andrea M. (2018)
"Deutsche gründen anders – und das ist gut so! Warum Silicon Valley kein Vorbild für Gründertum in Deutschland ist"
RKW Magazine, Vol. 2/2018: pp. 24-29. [pdf]

Held, Lukas, Andrea M. Herrmann and Allard van Mossel (2018)
"Team formation processes in new ventures"
Small Business Economics, Vol. 51 (No. 2): pp. 441–464. [pdf]

Dilli, Selin, Niklas Elert and Andrea M. Herrmann (2018)
"Varieties of Entrepreneurship: Exploring the institutional foundations of different entrepreneurship types through ‘Varieties-of-Capitalism’ arguments"
Small Business Economics, Vol. 51 (No. 2): pp. 293–320. [pdf]

Thompson, Neil A., Andrea M. Herrmann and Marko P. Hekkert (2018)
"SME Knowledge Commercialisation through Public Sector Partnerships"
International Journal of Innovation and Technology Management, Vol. 15 (No. 3). [pdf]

Thompson, Neil A., Andrea M. Herrmann and Marko P. Hekkert (2015)
"How sustainable entrepreneurs engage in institutional change: insights from biomass torrefaction in the Netherlands"
Journal of Cleaner Production, Vol. 106: pp. 608-618. [pdf]

Thompson, Neil A., Andrea M. Herrmann, Erik Stam and Marko P. Hekkert (2011)
"Innovation Barriers for Small Biotech, ICT, and Clean-Tech Firms"
EIM Discussion Paper Zoetermeer [pdf]

Weele, Marijn van, Neil Thompson, Andrea M. Herrmann and Erik Stam (2010)
"A Green - Entrepreneurial - Deal? Explaining the Development of Green Ventures and the Role of Government Subsidies"
Frontiers of Entrepreneurship Research, Vol. 30 (No. 18).

Herrmann, Andrea M. (2010)
"Against the Schumpeterian mainstream: a review of institutional approaches to entrepreneurship"
Socio-Economic Review, Vol. 8 (No. 4): pp. 735-746. [pdf]